Trick Daddy knows how to use the system to his benefit. The Miami rapper has filed for his third bankruptcy in three years—just in time to stop the loss of his home via foreclosure.
Trick – real name Maurice Young – filed for Chapter 13 bankruptcy last month on the same day that his house was supposed to be auctioned off to the highest bidder.
It is the third time in three years that the Miami rapper has filed for bankruptcy, with his other two being dismissed because of failure to make plan payments.
Trick listed his assets between $100,000 and $500,000 but said he owes between $500,001 and $1 million to various creditors.
Besides his house, which is worth $417,000, he has $2,500 in furniture, $150 in clothing and $400 in jewelry. The rapper said he has no cash on hand, in the bank, or in investments, but does own $10,000 in stock in the company Trick & Rick Music Publishing.
Among his debts are about $57,000 in back child support, $280,000 left on his home’s mortgage and $290,000 to the IRS.
Reportedly, Trick says he only made $17,000 this year, and $75,000 total last year.
Sounds like the “Shut Up” rapper needs to book a tour, stat. Reportedly, Trick will be appearing in the forthcoming Love & Hip Hop: Miami reality show.
Photo: Power 105